Cushman & Wakefield (NYSE:CWK) Reaches New 1-Year Low – Here’s What Happened

Cushman & Wakefield PLC (NYSE:CWK)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $11.08 and last traded at $11.02, with a volume of 48,547 shares trading hands. The stock had previously closed at $11.39.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CWK. UBS Group reduced their price target on Cushman & Wakefield from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Weiss Ratings upgraded shares of Cushman & Wakefield from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Barclays lifted their price objective on Cushman & Wakefield from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.57.

Cushman & Wakefield Stock Performance

The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 38.07 and a beta of 1.50. The firm’s 50 day simple moving average is $13.11 and its 200 day simple moving average is $13.26. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.35 earnings per share for the quarter. Cushman & Wakefield had a return on equity of 15.90% and a net margin of 0.64%. The firm had revenue of $2.76 billion during the quarter. Sell-side analysts forecast that Cushman & Wakefield PLC will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Cushman & Wakefield

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 12,500 shares of Cushman & Wakefield stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $13.39, for a total value of $167,375.00. Following the transaction, the insider directly owned 58,376 shares in the company, valued at approximately $781,654.64. The trade was a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laurida Sayed sold 16,000 shares of Cushman & Wakefield stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $13.88, for a total value of $222,080.00. Following the completion of the sale, the insider owned 5,461 shares in the company, valued at approximately $75,798.68. This trade represents a 74.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.74% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in Cushman & Wakefield in the first quarter valued at about $6,672,000. Renaissance Technologies LLC acquired a new stake in shares of Cushman & Wakefield during the first quarter worth $6,101,000. Dimensional Fund Advisors LP boosted its position in Cushman & Wakefield by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,248,848 shares of the company’s stock valued at $162,424,000 after purchasing an additional 397,892 shares during the period. Bank of America Corp DE grew its position in shares of Cushman & Wakefield by 13.2% during the first quarter. Bank of America Corp DE now owns 2,126,440 shares of the company’s stock worth $26,070,000 after acquiring an additional 247,475 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Cushman & Wakefield by 17.8% in the first quarter. Sei Investments Co. now owns 1,137,910 shares of the company’s stock valued at $13,951,000 after purchasing an additional 171,956 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cushman & Wakefield Company Profile

Cushman & Wakefield plc (NYSE: CWK) is a global commercial real estate services company that advises property owners, occupiers, investors and developers. Its services cover office, industrial, retail, hospitality, multifamily and other commercial property sectors.

The company provides leasing and tenant representation, capital markets and investment sales, valuation and advisory services, property and facilities management, project and development services, and consulting. Cushman & Wakefield also supports businesses with workplace strategy, portfolio planning and other real estate-related services.

The company traces its origins to 1917, when Cushman & Wakefield was established in New York.